New Trust Reporting Menu
We want to bring to your attention changes that may affect you in the coming tax season and throughout 2024:
- Reporting by Trusts
- Underused Housing Tax
- Toronto Vacant Housing Tax
- Sales of Residential Real Estate
- Canada Pension Plan
- Home Office Expenses – YOU ARE HERE
- Prescribed Interest Rates
- Tax-Free Savings Account Contribution Limits
- Changes to Ontario Business Registry
- Not-for-Profit and Charitable Organizations
Home office expenses
Employees who are required to work from home will be required to use the detailed method to claim home office expenses when making their claim in their 2023 tax return.
The temporary flat rate method introduced during COVID-19 is no longer available..
The CRA is updating Form T2200 for employees who are only claiming a deduction for home office expenses. The new form will be available at the end of January 2024.
Employees working from home should assemble the information needed to make the claim.